Loan Agreement Template
PandaTip: This loan agreement template makes use of PandaDoc’s tokens, text fields, and date fields to make it easy for the Lender and Borrower to complete and sign the document. To get started, fill out the tokens using the menu on the right.
This loan agreement is hereby agreed to by the following parties:
|City, State, Zip||City, State, Zip|
The Lender and Borrower shall collectively be referred to as “The Parties” for the purposes of this loan agreement.
The Lender hereby agrees to extend a loan to the Borrower, and the Borrower agrees to accept and repay a loan from the Lender pursuant to the entire terms of this agreement.
The Lender agrees to loan [Loan.Amount] to the Borrower as of [Loan.Date]. The Borrower agrees to repay that amount plus interest in accordance with the terms of this loan agreement.
2. Loan Delivery
PandaTip: You can edit the drop-down menu on the template below using the menu to the right.
The Lender shall make the full loan amount available to the Borrower via the following method:
(Note: If Lender indicates “wire transfer” as the loan delivery method, the Borrower should complete the “wire transfer” of this loan agreement)
Account Holder Name
3. Loan Repayment
The Borrower agrees to make monthly payments in the amount of [Payment.Amount] no later than the 1st calendar day of each month. The Borrower will make [Payments.Amount] payments to the Lender in this manner.
The initial loan repayment installment shall be due on and shall continue monthly until the final payment, due on .
Payment shall be considered late if not made by 5:00pm [Lender.Timezone] on the 1st calendar day of each month. All late payments shall be subject to a [LateFee.Amount] late payment fee.
Payments can be made via the following methods:
4. Governing Law
The terms of this loan agreement shall be governed by the laws of [Sender.State]. Any disputes, suits, or grievances must be filed in the state of [Sender.State].
5. Non-Payment Penalty
Should the Borrower fail to make payments in accordance with this loan agreement, the Lender may bring due the full remaining balance of the loan. In such a case, the Borrower must pay the full remaining balance of the loan within 30 days.
6. Legal Fees
Both parties agree that, in the event of a court dispute regarding this loan agreement, the prevailing party’s full legal costs, including attorneys’ fees, shall be reimbursed by the opposite party.
In the event that either party becomes deceased or otherwise incapacitated, their legal successors shall be fully responsible for upholding the terms of this loan agreement.
8. Financing Itemization
Interest (if repaid entirely via monthly installments):
Total Amount of Payments (if repaid as scheduled):
PandaTip: Be sure to review this section of the template for accuracy.
Any communication or notification related to this loan agreement shall be made as follows:
If to the Lender:
|City, State, Zip||Phone|
If to the Borrower:
|City, State, Zip||Phone|
PandaTip: PandaDoc includes legally binding electronic signatures in every subscription. No more printing, signing, and scanning loan agreements! This template already has signature fields for the Lender and Borrower.
By signing below, both parties indicate their acceptance of the terms of this loan agreement.